But what happens if that cost per download could actually be half of what it is right now?
The entire organization is based on a metric that’s just wrong. This has tremendous implications for the company as a whole.
Real-World Examples of Budget Use
There are too many examples of companies misusing large budgets, and organizations with shoestring budgets that really made it count – far outperforming competitors with deeper pockets.
It comes down to boxing smart: making the best use of your budget by planning well, leveraging the experience and expertise of a trusted partner, and thinking outside the box to create a more powerful impact.
A favorite example of Moburst’s is when it comes to app downloads. Some companies, with big budgets, cycle VP Media Email Lists through a large portion of their budget on an ill-advised strategy, that gets them nowhere.
Others trickle out their budgets, getting less than satisfactory results, and definitely without moving the needle on organic results.
Moburst got thinking: “how can they use a limited budget to boost both paid and organic downloads, and crush clients’ KPIs?”
Using the logic above, they created a strategy that uses smart bursts of budget really effectively, landing the app in the Top 10 list for its specific category.
This then results in a ton of organic downloads, which makes that paid campaign even more effective, and so on.
Smarter, creative, and thinking out of the box. Perfect.
Keep Your Eyes on Your Goals
A key part of using your budget wisely is to focus on your goals. Unfortunately, some companies or marketing departments start with a budget and then look at their goals.
Switching this around – starting with goals or KPIs and then looking at your budget – is a lot more effective.
Although only a change of perspective, this kind of thinking forces you to make your budget work for you, rather than approaching it as something to be “used”.
This also brings in data and optimization elements, which are central to successful campaigns. Creating a hypothesis based on available data, making a calculated change, testing effectively, analyzing the results, making another change, and testing again.
Each time you’re getting better and more effective while using small amounts of budget to generate learnings that otherwise could cost literally millions of dollars.
So Are Bigger Budgets Always Better Pretty Happy
Much like a mythical precious sword, budgets are powerful – but it’s how you use them that counts. Is bigger always better when it comes to budgets?
Certainly not. What matters is how you deploy your budget, how you approach your campaigns, how you optimize, and how you measure yourself in relation to the goals you’ve set.
And hopefully, given these learnings, very soon you will have that perfect campaign in place, where bigger will indeed mean better.